BNC Buys $160M BNB, Eyes $1.25B Crypto Treasury Build

BNB Network Company, the treasury management arm of CEA Industries Inc., has acquired 200,000 BNB tokens valued at approximately $160 million. The purchase makes BNC the largest corporate holder of Binance Coin worldwide. The acquisition follows a $500 million private placement led by 10X Capital in partnership with YZi Labs. This supports a treasury strategy focused entirely on BNB as the company’s primary reserve asset.

Formerly known as VAPE, BNC has shifted its business model to concentrate on digital asset treasury management. This pivot includes a leadership overhaul. Galaxy Digital co-founder David Namdar now serves as CEO, joined by Russell Read, former CalPERS Chief Investment Officer, and Saad Naja, former Kraken executive. Hans Thomas and Alexander Monje of 10X Capital have joined the board to guide the company’s crypto-first direction.

Why BNC Chose BNB

BNB is the native token of BNB Chain, one of the most active Web3 ecosystems. It ranks as the fourth-largest cryptocurrency by market capitalization. The third-largest blockchain by total value locked, with $12.3 billion in TVL. The token benefits from a deflationary supply model through periodic burns, growing on-chain activity, and potential market catalysts such as a BNB spot ETF. 

For BNC, these factors present both a strong reserve asset and a high-growth opportunity. BNB currently serves over 250 million users worldwide and sees daily trading volumes averaging $9.3 billion as of July 2025. Despite its scale, BNB remains underrepresented among U.S. institutional investors, a gap BNC aims to close.

Scaling the Treasury to $1.25 Billion

The $160 million purchase marks the first phase of BNC’s accumulation strategy. The company plans to continue acquiring BNB until its initial $500 million allocation is deployed. BNC also holds warrants that could provide an additional $750 million in proceeds for further BNB purchases. If fully exercised, the company’s total BNB treasury could reach $1.25 billion, solidifying its role as the leading institutional holder.

This strategy offers U.S. and global investors indirect exposure to BNB without the need to hold the asset directly. BNC believes this model aligns with institutional demand for regulated, liquid investment vehicles in the crypto market.

Market Implications

BNC’s sizeable BNB purchase sends a clear message: it believes in the long-term strength of the BNB Chain. The investment reflects growing confidence in blockchain networks as more than just speculative assets. It also marks another step in blending digital assets into mainstream corporate treasury strategies.

With institutional interest in crypto on the rise, BNC’s decisive move could shape how large companies think about holding and growing digital wealth. In many ways, the company is not just investing in a token, it is betting on the future direction of corporate finance in the digital age.